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DAOstack Token Collapse Highlights Risks in Early DAO Experiments
DAOstack Token Collapse Highlights Risks in Early DAO Experiments
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BTCCSquare news:
DAOstack's GEN token has plummeted to near-zero following the project's quiet shutdown in 2022. The decentralized governance protocol, which raised $30 million during the 2017-2018 ICO boom, exhausted its treasury funds without delivering promised returns.
GEN now trades at $0.001422, down 2.71% in 24 hours, with a total market cap of just $68,180. The token never approached its initial financing price, beginning its sustained decline after a May 2021 crash.
Notably, DAOstack's legacy continues through former team members who founded Backed Finance, creators of the xStocks tokenized marketplace. The project's failure serves as a cautionary tale about the risks inherent in early-stage DAO ventures.
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